# Identity Thieves Open Loans in Your Name. Here's Your Action Plan.
Identity thieves don't just max out credit cards. They open personal loans, auto loans, and even student loans under your name. When this happens, you face debt you never incurred and damage to your credit score that can take years to repair.
The first step is verification. Check your credit report immediately through AnnualCreditReport.com, the federally mandated free service. You get one free report per year from each of the three major bureaus: Equifax, Experian, and TransUnion. Look for accounts you don't recognize, unexpected hard inquiries, or collection notices for debts you never took on.
File a report with the Federal Trade Commission at IdentityTheft.gov. This creates an official record and gives you rights under the FTC Act. You'll receive an identity theft report and recovery plan tailored to your situation.
Next, contact the lender directly. Call the institution that issued the fraudulent loan and explain you're a victim of identity theft. Request they freeze the account and flag it as fraudulent. Get the name, title, and contact information of everyone you speak with. Send written confirmation by certified mail within 30 days.
Place a fraud alert on your credit file with all three bureaus. One call to any bureau triggers the alert across all three. A fraud alert lasts one year and prompts creditors to verify your identity before opening new accounts. You can renew it annually. For serious cases, request a credit freeze instead, which blocks access to your report entirely until you unlock it.
Finally, monitor your credit closely. Sign up for free credit monitoring through your bank or use services like Credit Karma or AnnualCreditReport.com alerts. Keep copies of all correspondence with lenders and the FTC.
Recovery takes patience.